Key Takeaways
- • NeoSci Ventures (NSV), a Singapore biotech venture builder, announced a first close of S$70 million ($53 million) for its inaugural institutional venture fund.
- • The fund targets biotechnology and healthcare companies developing new therapies and technologies across the US and Asia.
- • Backers include Taiwan's National Development Fund, Singapore-based EDBI, Catcher Technology, and Crescendas Group, alongside family offices and entrepreneurs.
- • NSV has already deployed capital into two companies, one of which is Protuoso, a protein-based therapeutics developer it co-founded; the second investment was not disclosed.
- • The firm is led by founding managing partner Daphne Teo and founding chief scientist Timothy Lu.
Summary
Singapore biotech venture builder NeoSci Ventures (NSV) has announced it raised S$70 million ($53 million) in the first close of its inaugural institutional venture fund, according to the firm's announcement. The vehicle will target biotechnology and healthcare companies developing new therapies and technologies across the United States and Asia.
The fund attracted capital from sovereign and government-linked investment institutions, publicly listed companies, family offices and entrepreneurs. Named investors include Taiwan's National Development Fund, Singapore-based EDBI, Catcher Technology and Crescendas Group, NSV said.
NSV operates across Singapore, Taiwan and the US and is led by founding managing partner Daphne Teo and founding chief scientist Timothy Lu. The team reports 15 years of building and investing in biotechnology companies, which it says have raised billions of dollars and achieved 10 public listings and acquisitions. The team is also behind NSG BioLabs, a co-working laboratory platform serving around 70 biotechnology and multinational companies in Singapore.
NSV plans to invest in therapeutic candidates and technologies at the intersection of biology, artificial intelligence, data and scientific tools. It intends to draw on its US and Asian networks to identify drug development opportunities, including assets from Asian biotechnology companies that could help pharmaceutical groups replenish their pipelines. The firm has deployed fund capital into two companies: Protuoso, which NSV co-founded to develop protein-based therapeutics for complex diseases, and a second company that was not disclosed.
Lu said the firm aims to "spot the most promising opportunities early, bring together the right teams and resources and turn promising discoveries into real products that reach patients worldwide."
The fund attracted capital from sovereign and government-linked investment institutions, publicly listed companies, family offices and entrepreneurs. Named investors include Taiwan's National Development Fund, Singapore-based EDBI, Catcher Technology and Crescendas Group, NSV said.
NSV operates across Singapore, Taiwan and the US and is led by founding managing partner Daphne Teo and founding chief scientist Timothy Lu. The team reports 15 years of building and investing in biotechnology companies, which it says have raised billions of dollars and achieved 10 public listings and acquisitions. The team is also behind NSG BioLabs, a co-working laboratory platform serving around 70 biotechnology and multinational companies in Singapore.
NSV plans to invest in therapeutic candidates and technologies at the intersection of biology, artificial intelligence, data and scientific tools. It intends to draw on its US and Asian networks to identify drug development opportunities, including assets from Asian biotechnology companies that could help pharmaceutical groups replenish their pipelines. The firm has deployed fund capital into two companies: Protuoso, which NSV co-founded to develop protein-based therapeutics for complex diseases, and a second company that was not disclosed.
Lu said the firm aims to "spot the most promising opportunities early, bring together the right teams and resources and turn promising discoveries into real products that reach patients worldwide."
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